Message boards :
Politics :
Gold
Message board moderation
Previous · 1 · 2 · 3 · Next
Author | Message |
---|---|
BarryAZ Send message Joined: 1 Apr 01 Posts: 2580 Credit: 16,982,517 RAC: 0 |
So, ID, as a hypothetical, if all you had was gold (which you couldn't exchange for paper since it was worthless) and no one wanted your gold (since they might exchange it for paper and that would be worthless), no clothes, no food, no housing, no car, and so on, would you be a happy camper? Who owns the gold? Basic and simple question. |
Intelligent Design Send message Joined: 9 Apr 12 Posts: 3626 Credit: 37,520 RAC: 0 |
|
Sirius B Send message Joined: 26 Dec 00 Posts: 24870 Credit: 3,081,182 RAC: 7 |
So this isn't going to help..... US to return to "Gold Standard" within 2 years If that happens, the UK will more than likely have to join.....shame a muppet sold ours cheap! |
skildude Send message Joined: 4 Oct 00 Posts: 9541 Credit: 50,759,529 RAC: 60 |
The gov't got off the gold and silver standard for a very simple reason. They didn't have enough Gold or silver to cover the value of the money. Money is valued against other currencies so their really isn't any need to have a standard that fluctuates everytime some idiot starts a war in Iraq In a rich man's house there is no place to spit but his face. Diogenes Of Sinope |
skildude Send message Joined: 4 Oct 00 Posts: 9541 Credit: 50,759,529 RAC: 60 |
There's NO GOLD!!!!! PANICCCC!!!! In a rich man's house there is no place to spit but his face. Diogenes Of Sinope |
Sarge Send message Joined: 25 Aug 99 Posts: 12273 Credit: 8,569,109 RAC: 79 |
The conspiracy theory that there is no gold left has been around for many years now. It is being continued by the anarchists that want to bring down society as we know it. And yes we have them here at Seti, even we are not immune! The question is, "should it matter?" Gold is pretty. It is malleable. It has low reactivity. It is a conductor. For these reasons, it has worth. Beyond that, it was by the choice of humanity to tie its worth to the worth of other things. Some say that economies that have relied on paper money always fail. Always. Is this true? If so, why? Part of it, they claim, is due to manipulation by governments. Again, is this really why? As it is, how many of us are really carrying paper money around all that often, as opposed to using a debit card, which draws directly from our checking accounts? (With some fees in certain cases.) OK, so the US and most or all other countries detached from the gold standard in the 70s. Does it matter? Does this really mean they can no longer tell how much your work, or my work, or a loaf of bread is worth, relative to each other? (Then again, maybe they cannot really tell, when athletes make so much, supposedly because entertainment is worth so much to so many people, 10 to 100 times as much as education, supposedly.) |
James Sotherden Send message Joined: 16 May 99 Posts: 10436 Credit: 110,373,059 RAC: 54 |
The gov't got off the gold and silver standard for a very simple reason. They didn't have enough Gold or silver to cover the value of the money. The new gold is oil. That why the price goes up every time and idiot starts a rumor of a war. [/quote] Old James |
skildude Send message Joined: 4 Oct 00 Posts: 9541 Credit: 50,759,529 RAC: 60 |
not helped, asked to not attend is more the line. Jocks in College class rooms typically slow things down learningwise. They are forever asking questions because they just don't understand the material presented to them. My former father-in-law was an ROTC commander. He had deals going with the basketball and football teams at the college. The jocks got C's as long as they never graced his classes with their presence. In a rich man's house there is no place to spit but his face. Diogenes Of Sinope |
John Neale Send message Joined: 16 Mar 00 Posts: 634 Credit: 7,246,513 RAC: 9 |
Actually Platinum and Rhodium are more valuable than gold Not so. Gold overtook platinum in value about a year ago. PGM (platinum group metal) prices are currently severely depressed. The current prices of the three metals you mentioned are: Gold: ±USD1,689/oz Platinum: ±USD1,541/oz Rhodium: ±USD1,150/oz Palladium is currently valued at ±USD631/oz. |
Sarge Send message Joined: 25 Aug 99 Posts: 12273 Credit: 8,569,109 RAC: 79 |
OK, so the US and most or all other countries detached from the gold standard in the 70s. Does it matter? Does this really mean they can no longer tell how much your work, or my work, or a loaf of bread is worth, relative to each other? But I do not think you will find the answer to my main question at that site. (If I am wrong, please tell me, I'll go read.it.) WHY is gold assigned the worth it is assigned. beyond its intrinsic worthwhile properties? |
James Sotherden Send message Joined: 16 May 99 Posts: 10436 Credit: 110,373,059 RAC: 54 |
But I do not think you will find the answer to my main question at that site. (If I am wrong, please tell me, I'll go read.it.) WHY is gold assigned the worth it is assigned. beyond its intrinsic worthwhile properties?[/quote] Id like to know that answer also. Is it bankers who put the value on it? In many so called primitive cultures they dont use any money. They barter what they raise or grow or create. I would also guess that even now those cultures are far and few between. [/quote] Old James |
Sarge Send message Joined: 25 Aug 99 Posts: 12273 Credit: 8,569,109 RAC: 79 |
Id like to know that answer also. Is it bankers who put the value on it? In many so called primitive cultures they dont use any money. They barter what they raise or grow or create. I would also guess that even now those cultures are far and few between.[/quote] Thanks, James. But apparently more than just bankers place a high value on it. |
betreger Send message Joined: 29 Jun 99 Posts: 11354 Credit: 29,581,041 RAC: 66 |
Id like to know that answer also. Is it bankers who put the value on it? In many so called primitive cultures they dont use any money. They barter what they raise or grow or create. I would also guess that even now those cultures are far and few between.[/quote] It is called speculation. |
James Sotherden Send message Joined: 16 May 99 Posts: 10436 Credit: 110,373,059 RAC: 54 |
It is called speculation.[/quote] Yes I had forgotten that. People who Buy but never have to take posession on what ever they think will go up in price. [/quote] Old James |
Sarge Send message Joined: 25 Aug 99 Posts: 12273 Credit: 8,569,109 RAC: 79 |
Sarge, yes, gold has value because people place value on it. It is pretty, has unique characteristics, it is pleasant to the eye, and it is limited in supply. Yes, it is a choice to tie its worth to other things. It also happens to be a very convenient thing to use to trade for other things. Since a great many people wish to trade a great many things, something in short supply does not seem to be a very convenient thing to use in the trading. How do I buy something from you? Suppose you have something that took you (arbitrarily) 5 minutes of labour (English spelling) to produce when the only thing I have to trade for that took me (arbitrarily) 8 hours of labor (US Spelling) to produce? Regardless of gold, people "should" be able to find a way to make these trades equitably. |
betreger Send message Joined: 29 Jun 99 Posts: 11354 Credit: 29,581,041 RAC: 66 |
Regardless of gold, people "should" be able to find a way to make these trades equitably. Guy, a problem with gold is as the economy grows the supply of gold is relatively fixed. That creates a situation of more goods and the same amount of money, hence the value of the goods will expressed in less money. That is deflation, not a good thing, probably as bad as inflation. |
Gary Charpentier Send message Joined: 25 Dec 00 Posts: 30593 Credit: 53,134,872 RAC: 32 |
Regardless of gold, people "should" be able to find a way to make these trades equitably. Until everyone begins to "shave" the coins. |
Sarge Send message Joined: 25 Aug 99 Posts: 12273 Credit: 8,569,109 RAC: 79 |
Regardless of gold, people "should" be able to find a way to make these trades equitably. OK, so you're not one of the people worried whether the US' gold is all gone or not, like I've seen a few people here post, and is covered in a few conspiracy theory type TV shows. |
©2024 University of California
SETI@home and Astropulse are funded by grants from the National Science Foundation, NASA, and donations from SETI@home volunteers. AstroPulse is funded in part by the NSF through grant AST-0307956.